Cooper Basin Deep Onshore Gas Exploration Update
Adelaide, May 27, 2013 AEST (ABN Newswire) - Beach Energy Ltd (
ASX:BPT) advises the following details in relation to its deep onshore gas exploration program, both in PEL 218 (Beach 70%, Chevron Australia Exploration 1 Pty Ltd ("Chevron") 30%(1)) and ATP 855 (Beach 42% and operator, Chevron 18%(1), Icon Energy Ltd 40% (ASX:ICN)).
PEL 218
Boston-2
The Boston-2 vertical well, located 320 metres south east of the Boston-1 well, was drilled to a total depth of 3,803 metres. Wireline logging was recently undertaken to evaluate the depths, thickness and gas saturation of the target zones. Boston-2 will initially be be used for microseismic purposes to further the understanding of the fracture extent and orientation in Boston-1, which has important implications on the longer term development spacing for the program. The Ensign 965 rig is currently being relocated to Keppel-1 in ATP 855.
Dashwood-1
The Dashwood-1 vertical well, located 11 kilometres to the south east of Nepean-1, reached total depth at 4,021 metres in mid-May. The well is expected to be fracture stimulated in late July.
Streaky-1
The Streaky-1 vertical well was drilled to 3,821 metres and fracture stimulated in nine stages, one in the Murturee Shale and eight in the Patchawarra Formation. As previously announced, Streaky-1 requires intervention by the coiled tubing unit prior to being flow tested in line with previous wells in the program.
Moonta-1
The Moonta-1 vertical well has been on flow test for five months and continues to flow gas at a rate of 0.5 MMscfd. It was stimulated over 10 stages, nine in the Patchawarra Formation and one in the Murteree Shale, with the plan to fracture stimulate the shallower sections at a future date. The extended nature of the Moonta-1 flow test is providing valuable information via production logging, including flow rate data from the various zones. This information is being used to optimise the target zones for the future stimulation of wells.
Holdfast-2
The Holdfast-2 horizontal well reached total depth 4,210 metres in late March. The well is the first horizontal well in this program and will be followed by further horizontal wells later in the year.
Holdfast-2 was drilled laterally into the Murteree Shale, and provides an excellent opportunity to trial a number of different stimulation techniques. The well will be stimulated over the full 600 metre horizontal section, with the number of stages and the design of each stage under development.
ATP 855
Halifax-1
The Halifax-1 well continues to flow gas at a rate of 1.1 MMscfd from 14 stimulation stages through the whole of the gas saturated Permian zone. The flow testing of the well is providing significant data points during this exploration and appraisal stage of the program.
Hervey-1
The Hervey-1 vertical well recently spudded on 26 May. The well is located 30 kilometres east of Halifax-1 and will be drilled off-structure to a planned depth of more than 4,200 metres.
Keppel-1
The Keppel-1 vertical well is expected to spud prior to month end and will be located 25 kilometres north east of Halifax-1. The well will also be drilled off-structure and may be one of the deeper wells of the program.
Fracture stimulation program
Beach has commenced its second fracture stimulation program, with the first five stimulation stages completed at Marble-1. Marble-1 will be fracture stimulated over 12 stages, from the top of the Epsilon Formation down to the base of the Patchawarra Formation. This marks the start of a minimum five well campaign that will result in the continued appraisal of both vertical and horizontal wells that have been, and will be drilled through stage 1 of the program.
To view the Proposed drilling and fracture stimulation timeline, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-BPT-737174.pdf
Contact
Beach Energy Limited
T: +61-8-8338-2833
F: +61-8-8338-2336
WWW: www.beachenergy.com.au
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